President RUTO disappoints hustlers as he finally reduces fuel prices – Look! Hapa tulichezwa vibaya sana!

 

Saturday, October 15, 2022 – The government of President William Ruto has finally reduced fuel prices.

In a statement, the Energy and Petroleum Regulatory Authority (EPRA) reduced Super Petrol from Sh179.30 to Sh178, Diesel from Sh165 to Sh163, and Kerosene from Sh147.94 to Sh146.

In essence, Petrol and Kerosene were both reduced by Ksh1 and Diesel by Ksh2 respectively.

The new prices take effect from October 14 at midnight for one month.

“Taking into account the weighted average cost of imported refined petroleum products and in line with Government policy, the changes in the maximum allowed petroleum pump prices in Nairobi are as follows: Super Petrol, Diesel and Kerosene decrease by Kshs1 per litre, Kshs2 per litre and Kshs1 per litre respectively.

“The prices are inclusive of the 8% Value Added Tax (VAT) in line with the provisions of the Finance Act 2018, the Tax Laws (Amendment) Act 2020 and the revised rates for excise duty adjusted for inflation as per Legal Notice No. 194 of 2020,” EPRA announced.

The government agency noted that the drop in fuel prices was occasioned by the maintenance of fuel subsidy on Diesel and Kerosene.

“A subsidy of Kshs18.15 per litre and Kshs27.47 per litre has been maintained for Diesel and Kerosene respectively in order to cushion consumers from the high prices.

“The Government will utilise the Petroleum Development Levy to compensate oil marketing companies for the difference in cost,” EPRA explained.

However, Kenyans are not impressed by the new fuel price reduction.

According to them, Ruto duped them by increasing fuel by Sh20 and Sh25 and reducing it by Sh1 and Sh2.